Elroy corporation repurchased 4000 shares of its own stock, Ask an Expert

Finance

Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later Elroy resold 900 shares of the treasury stock for $32 per share.

Required:

What is the balance of the Treasury Stock account after these transactions are recognized?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92865453

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